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As Democratic Party presidential candidates promise to cancel Americans’ $1.6 trillion in student loan debt, President Donald Trump wants to end the Public Service Loan Forgiveness program and eliminate subsidized federal loans.

The president has proposed dropping the loan forgiveness program in every budget he’s submitted, including the 2021 fiscal year proposal released last week. Congress has not acted on his recommendation.

Are you concerned about debt in America? Leave a comment.

Created in 2007, the program forgives student debts once participants complete 10 years of monthly payments while employed full time as teachers, nurses, police officers, or as nonprofit or government workers. The first eligible borrowers started claiming their benefits in the last three years.

But those claims have not gone smoothly for many who say they made their 10 years or 120 payments only to learn they did not meet the program’s complex eligibility rules.

Librarian Lynn Wallace has student loan debt and complained in the Tulsa World about the program’s complex regulations: “Fraudulent information about the Public Service Loan Forgiveness has left me with five extra years in repayment status.” Only 62 of her 118 payments counted toward the required 120, she said.

Trump and other critics of the program say it unfairly favors some careers over others. This year’s budget proposal, like those in previous years, recommends closing the program to new applicants while keeping it open for current participants like Wallace.

The president’s proposed budget also calls for the elimination of federally subsidized loans, in which the government pays the loan’s interest while students with financial need attend school or qualify for grace periods. The changes would end complicated formulas that determine which type and amount of loan qualify for subsidies, but the burden for repaying the interest would shift completely to the student.

Other proposed changes would reward faithful repayment and protect students and parents from overborrowing in the first place. These changes would cut the U.S. Department of Education’s budget by 8 percent.

Borrowers shouldn’t plan for these reforms anytime soon. The president’s proposed budget is merely the first step in a lengthy process governed by competing ideologies.

(Excerpt from World. Article by Lauren Edghill.)

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February 25, 2020

Lord, REMOVE the Federal government from loan subsidy, healthcare and all other “pies” into which they have placed their egregious fingers. May such areas be returned to private lenders, private control, and free market influence, that they may ONCE AGAIN be affordable, and reflect what the market can bear, and what people can REASONABLY PAY. REMOVE the GREED of government, it’s mismanagement and lack of accountability. I pray in agreement with Ben Carson, may we realize the government has CAUSED these problems, and IS NOT THE SOLUTION. May faith, frugality, Biblical management all converge to restore our houses to order in every way–to Your glory and honor, Lord. THANK YOU! And make a way for those faithfully endeavoring to pay their debts–may a solution be found for them, wisdom and grace prvailing–and even a JUBILEE, by God’s grace. Have YOUR way Lord, to helping those who have placed their foot in a snare of crushing debt. Prosper and deliver them, as they give their situations to YOU, for YOUR solutions. Thank You, Lord! in Jesus’ Name.

Leslie Russell
February 25, 2020

I’m concerned about the high cost of college. It wasn’t this expensive years ago. It was more affordable.

Now children are going to college who have never made financial decisions such as buying a car or a home or even supporting themselves. They are stuck with high loans. Adults can make poor financial decisions and declare bankruptcy, but our children cannot declare bankruptcy.

I worked in the admissions office of a small college many years ago. We had low wages and lots of perks: insurance was an excellent benefit, westarted with three weeks vacation, with one+ week at Christmas and one or two weeks in summer when the college shuts down. The working conditions were acceptable.

Today they are paid well and continue to receive great perks. Colleges are building new buildings. Every years tuition goes up.

This is wrong and something needs to be done about it.

February 24, 2020

no party socialists no President have. This. Kind of money but God owes it all.
The Candidate like Bernie and other w ants to hand a lot freebies in one hand and with the other take the freedom which is God given away to control. What and how much you.buy if you can live if so where and for long

February 24, 2020

Student college. Debt isn’t the end of the world. Socialism is.

Annette Landry
February 24, 2020

My sons opted out of college all except one who tried it and decided it didn’t fit. They all have wonderful jobs and my youngest started a business with the money we set aside to buy him a car, he bought a used car used the rest to start a D.J. Business ran with it then went into real estate and owns rentals, his own business, What I am trying to say college is not for everyone. I am not against education but I don’t see where colleges are producing anything but cloning young people to believe there views there opinions and yes God deliver our nation form deceit in our colleges and classrooms in Jesus name Amen

Clarice Hawkins
February 24, 2020

We have all been hoodwinked. I believe in a good education but that is not what is happening across America. We have classrooms that produce students that take no responsibility for the college expenses they have chosen. High Schools that promise wages that are no where to be found. All that to learn that what is being taught is hatred for America. That socialism (code for communism) is what our youth is deceived into believing. If our tax money is paying for their loan subsidies then they need to take courses on the Constitution with writing from our Founding Father’s original writings. Not some revised version of our history from a professor with allot letters behind his name and no truth in his soul. Father deliver our nation from the deceit in our classrooms in Jesus name Amen!

Mrs. F
February 24, 2020

We have one in college now. I want everyone to know the problem we faced when she was in High School. We took her to visit local colleges that were affordable. BUT her high school advisor told her, “it is your life and you need to enjoy it. You are 18 years old and can go to any college you want to so don’t let your parent’s opinions hold you back.” The advisor actually helped her fill out applications to more expensive schools without our knowledge. Several months later, the child was excepted to a college that costs $12,500 per semester (not including books or fees). The child said she was going to that college because she wanted the “full college experience”. So, this is just one example of how children go to colleges they have no way of affording. If the child had followed our advice she would have gotten a good education at only $2,000 per semester. We tried teaching her the benefits of doing something she could afford, but the public school system overrode our good intentions. I should count myself fortunate though because two of my closest friends have now experienced the public school brainwashing ….. one of their children was told she should apply to NYU if she wanted and another was told to go to school in Hawaii if that is what made her happy. Both of their girls snuck around and applied for schools far more expensive than what we are going through. If I could give a warning to younger parents reading this- please homeschool your children if possible. When they go to public school, the school has them for 8 hours a day and you only have a very hours each day with them. They are essentially being brainwashed.

    Ronald Bangert
    February 25, 2020

    Very true. I am a retired H. S. Ind Tech instructor. Parents must know that: 1) few teachers, counselors, or administrators have punched a clock thier entire adult life. 2) they have been in Education since Kindergarten and know little else. 3) 20% of all careers require a minimum of 4 years college for entry level or higher, half those are Legal, Medical, and Education. 4) All other careers requiring 4 years college for entry level are 10%! Thunk about that. 5) 65% of all other careers require 2 year associates degree or Apprenticeship. 15% unskilled careers with on the job training.

    I told all my students if there is a career or line of work you wish to pursue, that determines your post secondary needs. And if you have no idea what you want to do, don’t borrow or waste money going to school. Find work for a year or two and sort yourself out. Mature and get your head on straight. Your parents will thank you.

    I was reprimanded by administration and counselors for this approach and could not invite speakers from unaccredited schools that provided training to work for seniors. It had to be college pathways, that’s what they knew.

    I worked 11.5 years in industry, managed, hired, interviewed, etc. Only a few had college degrees, the rest learned on the job. Progressive thinking has taken over public schools and policy.

    February 25, 2020

    Part of the reason it would wrong to cancel college loan debt is exactly because of how it rewards the irresponsible. Thank you for your examples.

    May God give wisdom to the citizens in this issue as they prepare to vote, as well as to the students. May He give us wisdom in other issues, as well as boldness in lovingly explaining the reasons for concern to friends and family.

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